Aurubis To Divest Part of its Flat Rolled Segment to INTEK Holding

SEATTLE (Scrap Monster): Aurubis AG announced that it has signed a term sheet with INTEK Holding towards partial sale of its flat rolled products (FRP) segment. The segment had generated operating EBT of € 10 million during the initial nine-month period of the current fiscal year.

This will serve as the basis for preparation of a purchase agreement. The purchase agreement is expected to be signed within two months. The transaction is subject to approval of competition authorities. The sale price was not disclosed.

As part of the transaction, Aurubis intends to sell its FRP plant in Zutphen, Netherlands, in addition to the slitting centers located in Birmingham, United Kingdom, Dolný Kubín, Slovakia, and Mortara, Italy. These facilities together employ approximately 360 people. The transfer of the above sites will be made only after the approval of the transaction by respective competition authorities.

Meantime, the plants in Stolberg, Germany, Pori, Finland and Buffalo, USA will continue to remain in the Aurubis Group.

Roland Harings, CEO of Aurubis AG noted that the sale is part of its strategy to focus strongly on its core business. The planned sale will reduce Aurubis’ scope and complexity in the FRP segment, he added.

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